Tag: Pension funds

Why the Fairfax County Police Pension Fund Should Divest From Crypto | John Reed Stark

Last week, I asked the Chief Investment Officer of the Police Fund, Katherine Molnar, how much the fund had invested in crypto-related investments. Molnar responded to me via email that: “In rough terms, there are crypto-related investments having a value of approximately $120,000,000 currently in the Fairfax County Police Officer Pension Fund. The target exposure is 4.75% across venture capital,…

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Former CalPERS chief sentenced to prison in bribery scandal | The Sacramento Bee

He arrived in plain jail clothes, shackles around his ankles, the humbled former leader of America’s largest public pension fund ready to accept his punishment for taking bribes. He left with a prison term of 4 1/2 years. Fred Buenrostro, the former chief executive of CalPERS, was sentenced Tuesday by a federal judge who called his actions “a spectacular breach of…

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State Street says SEC unit wants to sue over its use of consultants, lobbyists to win business — AP

State Street Corp. provides money-handling services to pension funds and other big investors. The SEC has been investigating the way the company solicited the business of public retirement plans in two states. The company says the issues involve its use of consultants and lobbyists, and political contributions made by a consultant during and after a public bidding process. The company…

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As bribery case continues, CalPERS reaps profits from tainted investments — Sac Bee

It’s been one of the darkest chapters in CalPERS history, a bribery scandal that prompted a guilty plea from its former chief executive earlier this month. It’s also been rather profitable. America’s largest public pension fund has racked up sizable gains from investments brokered by Alfred Villalobos, the Nevada businessman accused of bribing top CalPERS officials…. via As bribery case continues,…

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Philadelphia-Area Pension Fund Becomes First to File Class Action for Madoff Losses

UPDATE: This article has been updated to correct the nature of the lawsuit filed by the pension fund.  The lawsuit is an ERISA action that asserts a claim for breach of fiduciary duty, not a securities class action.  A copy of the complaint is available here. Pension Fund for Hospital and Health Care Employees-Philadelphia and Vicinity, a Philadelphia-area pension fund,…

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